Taiwan's machine tool exports up in August
Post Date: 19 Sep 2014 Viewed: 537
Taiwan's machine tool exports rose in August, primarily driven by strong demand from the Chinese market, a local industry group said Thursday.
Amid the warming global economy, exports of Taiwan-made machine tools totaled US$348.59 million last month, up 6.7 percent from the previous month and up 14.6 percent from a year ago, the Taichung-based Taiwan Machine Tool and Accessory Builders' Association said.
Shipments to major trade partner China rose by 11.1 percent month-on-month to US$130.35 million in August. The exports to China were significant as they accounted for 35.3 percent of Taiwan's total machine tool exports.
Exports to Turkey, Taiwan's third-largest export destination, also saw a sharp monthly increase at 69.6 percent, with shipments amounting to US$29.27 million last month, the group said.
Taiwan's second-largest market, the United States, however, saw a monthly drop of 24.3 percent last month, with exports totaling US$34.42 million, according to the group.
During the first eight months of the year, Taiwan's machine tool exports worldwide totaled US$2.49 billion, a 5.7 percent increase over the same period of 2013, according to statistics.
Although the figures represent gains relative to 2013, they did not return to the level set in 2012, when Taiwan's machine tool exports totaled US$2.74 billion in the January-August period and US$4.25 billion for the year as a whole, a record high.
The sector's exports slumped in 2013 due to weak global demand, and that demand has yet to be fully restored.